Suburb Profile Report for Wyndham Vale VIC (3024)

Wyndham Vale House: Median price $465,000, Annual capital growth 6.66%, Number of sales 265, Weekly median advertised rent $360

Wyndham Vale Unit: Median price $375,000, Annual capital growth 5.47%, Number of sales 19, Weekly median advertised rent $340

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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At number 2038th in the list of Australian suburbs ordered by increase in median house value over the last year, Wyndham Vale, 3024 is in the top half with a property value increase of -1.85% recorded in median house prices.

Wyndham Vale,3024 was ranked 2545 in Australia by increase in median property value over the quarter.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Wyndham Vale, 3024. Typically our figures indicate that -6.90% is being offered, which puts this VIC suburb at 1518th most discounted overall in Australia.

On average over the past year, suburb has had 22.08 sales per month, which equates to 265 per year.

The VIC suburb of Wyndham Vale, 3024 is in the Wyndham (C) local government area.

VIC has seen average median house prices change by 0.68% which means that Wyndham Vale, 3024 has done well for property investors by showing a capital gain of 17.10% over the last year

While Wyndham Vale,3024 ranked number 155th in VIC for increase in median house value (annualised) increase, it is ranked 20th over the last 5 years.

Vendor discounting in Wyndham Vale is giving property investors an average Vendor Discount of around -8.41%. This puts suburb at number 25th in VIC when ranking the most discounted suburbs.

Wyndham Vale is 91th on a list of best yielding suburbs for rents in VIC with a 4.71% return

Information supplied by:


May 2018

M
O

W
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Housing stock tightens

Postcode: 3024

Median house price: $445,000

Stock on market: -52.0%

12-month growth: 17.1%

The large suburb of Wyndham Vale saw housing supply halved over a 12-month period when the number of houses dropped from 589 to just 280 from February 2017-2018.

This could have helped spur demand, as the suburb recorded a 17% price increase over the same period. Nonetheless, houses are still reasonably priced at a median value of under $450,000, a possible factor in how quickly these properties are selling on the market. The average time on market is just 39 days, reflecting Wyndham Vale’s popularity.   

The suburb is home to several sports clubs, who make their bases at Wyndham Vale Reserve and President’s Park. Wyndham Vale is also an education hub, with four primary schools in the area. Residents have access to amenities like medical services.

Metrics i HOUSE UNIT
$465,000 $375,000
-1.06% 0.67%
-1.85% 17.10%
6.66% 5.47%
$360 $340
265 19
4.03% 4.71%
61.0172413793104 68.9375

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Good (U)
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Demographics
Total population 17304
Median household income ($/weekly) 1356
Median age of persons 30
Median housing loan repayment ($/monthly) 1700
Average household size 2.9
  • Census Count Percent(%)
    0-4 years 1814 10.5
    5-14 years 2810 16.2
    25-34 years 3553 20.5
    35-44 years 2790 16.1
    45-54 years 1879 10.9
    Others 4459 25.8
    Age Group
    Census Count Percent(%)
    Registered Married 5787 49.3
    Not Married 4444 37.9
    Defacto Relationship 1507 12.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 11976 73.5
    Indonesia 547 3.4
    Papua New Guinea 546 3.4
    United Kingdom 799 4.9
    Other 884 5.4
    Others 1542 9.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 231 1.5
    Christianity 9992 64.5
    Hinduism 460 3.0
    Islam 395 2.6
    No Religion 4188 27.1
    Others 214 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 502 9.7
    $1,000-$1,249 593 11.4
    $1,250-$1,499 577 11.1
    $1,500-$1,999 934 18.0
    $2,000-$2,499 688 13.3
    Others 1886 36.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 5595 46.6
    Not in the labour force 3362 28.0
    Employed, worked part-time 2008 16.7
    Unemployed, looking for work 553 4.6
    Employed, away from work 489 4.1
    Person Characteristics
  • Census Count Percent(%)
    Professionals 1164 14.4
    Technicians & trades workers 1269 15.7
    Community & personal service workers 851 10.5
    Clerical & administrative workers 1405 17.4
    Machinery operators & drivers 918 11.3
    Others 2486 30.7
    Occupation
    Census Count Percent(%)
    Pre-school 335 7.9
    Infants/Primary 1731 40.7
    Secondary 1150 27.0
    Technical or Further Educational Institution 366 8.6
    University or other Tertiary Institutions 421 9.9
    Others 255 6.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 16070 98.1
    Flat, unit or apartment 214 1.3
    Semi-detached, row or terrace house, townhouse 80 0.5
    Improvised home, tent, sleepers out 9 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 3304 59.0
    Rented 1383 24.7
    Fully owned 893 15.9
    Other tenure type 23 0.4
    Tenure Type
Census 2011, ABS
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